SVB Go Receives 2024 Model Bank Award for
Reinventing Cash Management
SAN FRANCISCO ,
April 2,
2024 /PRNewswire/ -- Silicon Valley
Bank (SVB), a division of First Citizens Bank, today
announced that SVB Go, its new online banking platform, has been
recognized as a leading cash management solution by Celent, a
global research and advisory firm for the financial services
industry.
SVB Go was awarded the 2024 Model Bank award specifically for
creating an innovative solution that enables its high-growth
clients to bank at the pace that they run their businesses.
"The Model Bank Awards recognize how banks creatively apply
technology to change the face of banking," said Colin Kerr, Principal Analyst at Celent.
"Corporate clients in all market segments now expect a more
personalized banking experience. Silicon Valley Bank has reinvented
cash management by tailoring unique customer experiences for each
stage of a client company's growth."
SVB Go was custom built as a simple and secure way to manage
cash flow, issue cross-border and international payments, build
custom reports in real-time and mitigate risk proactively, via an
intuitive digital banking platform. The platform has been rolled
out to tens of thousands of SVB clients to date and is expected to
reach all clients by the end of 2024, simplifying and streamlining
how they conduct day-to-day treasury management.
"Silicon Valley Bank is committed to providing, and investing
in, digital solutions, products and services our clients need to
scale and grow their businesses," said Gagan Kanjlia, Chief Product Officer of Silicon
Valley Bank. "SVB Go was designed to meet the unique needs of our
startup, founder and corporate clients. We took the concept of cash
management and modernized it for this digital era. This recognition
from Celent is a testament that we remain a leader in delivering
unmatched customized solutions to support innovation economy
companies end-to-end."
Celent's annual award program recognizes financial institutions
as 'model banks' for their outstanding technology initiatives.
Winning initiatives must demonstrate clear business benefits,
innovation, and technology or implementation excellence. SVB was
selected from more than 140 submissions from banks and credit
unions worldwide, including many of the top 10-15 North American
banks, as well as major financial institutions from Europe, Asia,
the Middle East, and Latin America.
About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is
the bank of some of the world's most innovative companies and
investors. SVB provides commercial and private banking to
individuals and companies in the technology, life science and
healthcare, private equity, venture capital and premium wine
industries. SVB operates in centers of innovation throughout
the United States, serving the
unique needs of its dynamic clients with deep sector expertise,
insights and connections. SVB's parent company, First Citizens
BancShares, Inc. (NASDAQ: FCNCA ), is a top 20 U.S. financial
institution with more than $200
billion in assets. First Citizens Bank, Member FDIC. Learn
more at svb.com
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SOURCE Silicon Valley Bank